Enbridge Inc. (NYSE:ENB) is 1832 Asset Management L.P.’s 4th Largest Position

1832 Asset Management L.P. boosted its holdings in shares of Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 2.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 35,289,140 shares of the pipeline company’s stock after acquiring an additional 846,796 shares during the quarter. Enbridge accounts for 1.8% of 1832 Asset Management L.P.’s portfolio, making the stock its 4th biggest holding. 1832 Asset Management L.P. owned about 1.66% of Enbridge worth $1,271,115,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Harbor Investment Advisory LLC raised its position in Enbridge by 5.2% during the 4th quarter. Harbor Investment Advisory LLC now owns 5,623 shares of the pipeline company’s stock valued at $203,000 after purchasing an additional 280 shares in the last quarter. North Star Investment Management Corp. raised its position in Enbridge by 24.6% during the 4th quarter. North Star Investment Management Corp. now owns 1,519 shares of the pipeline company’s stock valued at $55,000 after purchasing an additional 300 shares in the last quarter. Capital Investment Counsel Inc raised its position in Enbridge by 5.2% during the 4th quarter. Capital Investment Counsel Inc now owns 6,564 shares of the pipeline company’s stock valued at $237,000 after purchasing an additional 326 shares in the last quarter. Nations Financial Group Inc. IA ADV raised its position in Enbridge by 1.9% during the 4th quarter. Nations Financial Group Inc. IA ADV now owns 17,933 shares of the pipeline company’s stock valued at $646,000 after purchasing an additional 340 shares in the last quarter. Finally, First Citizens Bank & Trust Co. raised its position in Enbridge by 5.1% during the 3rd quarter. First Citizens Bank & Trust Co. now owns 7,057 shares of the pipeline company’s stock valued at $234,000 after purchasing an additional 341 shares in the last quarter. Hedge funds and other institutional investors own 54.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on ENB shares. Jefferies Financial Group assumed coverage on Enbridge in a research report on Tuesday, February 27th. They issued a “buy” rating for the company. Stifel Nicolaus assumed coverage on Enbridge in a research note on Thursday, January 18th. They issued a “hold” rating on the stock. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Enbridge presently has an average rating of “Hold” and an average target price of $55.20.

Enbridge Stock Performance

Shares of Enbridge stock traded up $0.85 on Thursday, reaching $36.44. 5,114,280 shares of the stock were exchanged, compared to its average volume of 5,854,376. The company has a quick ratio of 0.74, a current ratio of 0.83 and a debt-to-equity ratio of 1.30. Enbridge Inc. has a twelve month low of $31.03 and a twelve month high of $40.30. The firm has a market capitalization of $77.47 billion, a price-to-earnings ratio of 17.35, a PEG ratio of 3.36 and a beta of 0.83. The business has a 50 day moving average price of $35.29 and a two-hundred day moving average price of $34.89.

Enbridge (NYSE:ENB) (TSE:ENB) last released its earnings results on Friday, February 9th. The pipeline company reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.03). Enbridge had a return on equity of 10.23% and a net margin of 13.97%. The firm had revenue of $8.37 billion for the quarter, compared to analyst estimates of $9.62 billion. Analysts anticipate that Enbridge Inc. will post 2.12 earnings per share for the current fiscal year.

Enbridge Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Wednesday, May 15th will be issued a $0.677 dividend. The ex-dividend date of this dividend is Tuesday, May 14th. This is an increase from Enbridge’s previous quarterly dividend of $0.66. This represents a $2.71 dividend on an annualized basis and a yield of 7.43%. Enbridge’s payout ratio is presently 129.05%.

About Enbridge

Enbridge Inc, together with its subsidiaries, operates as an energy infrastructure company. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution and Storage, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment operates pipelines and related terminals to transport various grades of crude oil and other liquid hydrocarbons in Canada and the United States.